Daily Spot…

A daily summary of high-profile members of several complexes… View a more detailed discussion of each chart at the end of today’s Market Wrap.

Eurodollar Jun Contract (EC, ETF: (FXE, UUP))
Still having access to the morning for extending the corrective bounce, Tuesday ranged narrowly back down to Friday’s lows, attacking 1.1350. The timing is unchanged, and extending the decline Wednesday remains likely.

Gold Apr Contract (GC, ETF: (GLD))
Already trending down overnight gapped open to attack the maximum pullback limit, filling the gap back down to Friday’s 1312.00 close or only testing the structure that contains it. Any early strength Wednesday would be credible for extending higher intraday.

Silver May Contract (SI, ETF: (SLV))
Overnight weakness attacked Friday’s structure containing the gap back to its close. While holding the 15.40 maximum pullback limit keeps alive a path higher, it does require the rally to resume by Wednesday morning.

30-year Treasury Jun Contract (US, ETF: (TLT))
The adjusted 149-00 pullback limit being tested at Monday’s close was probed overnight down to 148-12, well above its potential to 147-17/147-25 that would at least maintain the uptrend.

Crude Oil May Contract (CL, ETF: (USO, USL) (UWTI-long, DWTI-short))
Monday’s bounce from retesting Friday’s low had extended higher overnight, but it was a post-open surge that filled the gap back up to Thursday’s 60.00 close. Still overlapping the gap and not rejecting does help to maintain upside momentum, but Wednesday’s EIA report is not being greeted from an optimal position of strength.

Natural Gas Apr Contract (NG, ETF: (UNG, UNL))
Gapping down Monday to 2.72 under all prior intraday lows should be retested from above to form a durable bottom. It was only attacked intraday Monday, and Tuesday was already firming optimistically. Absent closing above 2.77, a retest of 2.72 Wednesday would help to greet Thursday’s EIA report from a position of strength.